Sunday 9 May 2010

Lending mechanism of around $645 billion.


European Union finance ministers pledged to stop a sovereign-debt crisis from shattering confidence in the euro as they held an emergency summit to hammer out a lending mechanism that may be worth around $645 billion. Expectations of decisive action buoyed the euro as trading began in Asia. It jumped more than 1 percent to $1.2897 as of 6:11 a.m. in Sydney, according to pricing from Westpac Banking Corp.

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